CareDx (NASDAQ:CDNA) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of CareDx (NASDAQ:CDNA) from a hold rating to a buy rating in a research note released on Monday morning.

Other analysts have also issued research reports about the stock. HC Wainwright restated a neutral rating on shares of CareDx in a research report on Thursday, August 1st. Raymond James lowered shares of CareDx from an outperform rating to a market perform rating in a report on Monday, May 13th. The Goldman Sachs Group lifted their price target on shares of CareDx from $16.00 to $26.00 and gave the company a buy rating in a report on Thursday, August 1st. Craig Hallum lifted their price target on shares of CareDx from $22.00 to $32.00 and gave the company a buy rating in a report on Thursday, August 1st. Finally, Stephens lifted their price target on shares of CareDx from $15.00 to $18.00 and gave the company an overweight rating in a report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $22.00.

CareDx Price Performance

CDNA stock opened at $27.39 on Monday. CareDx has a 12 month low of $4.80 and a 12 month high of $27.47. The company’s 50 day simple moving average is $16.83 and its 200-day simple moving average is $12.61. The firm has a market capitalization of $1.43 billion, a PE ratio of -8.01 and a beta of 1.78.

CareDx (NASDAQ:CDNA) last announced its earnings results on Thursday, May 9th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.18. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. The firm had revenue of $72.05 million for the quarter, compared to analyst estimates of $63.63 million. As a group, sell-side analysts anticipate that CareDx will post -1.49 earnings per share for the current year.

Hedge Funds Weigh In On CareDx

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in shares of CareDx by 1,021.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock valued at $34,000 after acquiring an additional 2,013 shares during the period. Headlands Technologies LLC purchased a new position in shares of CareDx in the 4th quarter valued at $50,000. Nisa Investment Advisors LLC raised its stake in shares of CareDx by 442.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,440 shares of the company’s stock valued at $77,000 after acquiring an additional 5,253 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of CareDx in the 2nd quarter valued at $142,000. Finally, Quest Partners LLC purchased a new position in shares of CareDx in the 4th quarter valued at $117,000.

CareDx Company Profile

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.